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Thursday 5 November 2026 Export ELS’s income statement to Excel — free account

Equity Lifestyle Properties, Inc.

ELS Real Estate Reit Residential

Equity Lifestyle Properties, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.5 billion, roughly unchanged from fiscal 2024.

Revenue
+4.22%
EPS
−10.0%
Free cash flow
+33.5%
Total debt
+19.5%

Quarter to September 2026, against a year earlier

62.55 2.25 +3.73%
Market cap
$12.6B
P/E
29.7×
Fwd P/E
28.8×
Dividend yield
3.56%
F-score
6/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Equity Lifestyle Properties, Inc. (ELS) Operating margin

Alert me on Operating margin

Equity Lifestyle Properties, Inc.'s operating margin over the twelve months to 30 September 2026 was 34.6%, up 0.5 percentage points from fiscal 2025 (34.1%). Over the past ten years it has ranged from 29.2% (fiscal 2022) to 34.1% (fiscal 2025) — the current reading is the highest in ten years. That is above the Reit Residential industry median of 21.7% and above the Real Estate sector median of 18.4%.

Operating margin, annual

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Annual newest first

Period Operating margin Change (points)
FY2025 34.1% 0.79
FY2024 33.3% 2.57
FY2023 30.8% 1.62
FY2022 29.2% (0.32)
FY2021 29.5% (2.00)
FY2020 31.5% (1.62)
FY2019 33.1% (0.25)
FY2018 33.3% (0.16)
FY2017 33.5% 0.58
FY2016 32.9% 0.17

Quarterly newest first

Period Operating margin Change (points)
Sep 2026 33.4% 1.35
Jun 2026 32.0% (5.05)
Mar 2026 37.1% 0.96
Dec 2025 36.1% 3.23
43 more quarters

Against its own ten years

Low 29.2% High 34.1%
Ten-year median 32.9%
Current reading's percentile 100

Operating margin against peers

Company Operating margin
UDR United Dominion Realty Trust, Inc. compare 52.2%
ELS Equity Lifestyle Properties, Inc. 34.6%
ESS Essex Property Trust, Inc. compare 29.5%
MAA Mid-America Apartment Communities, Inc. compare 26.3%
AMH American Homes 4 Rent compare 25.0%
INVH Invitation Home compare 24.3%
SUI Sun Communities, Inc. compare 21.7%
CPT Camden Property Trust compare 17.9%
JAN Janus Living, Inc. compare −2.59%
Reit Residential industry median 21.7%
Real Estate sector median 18.4%
Market median 0.00%

What Operating margin is

EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.

EBIT ÷ Revenue

The full definition of Operating margin →

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